Not according to the man who actually saw it. This is what he described seeing:
AB, George Scarrott: "362. (The Commissioner.) Like a lion couchant?
- As you approach Gibraltar - it seemed that shape. The highest point would be on my right, as it appeared to me."
A "lion couchant" is lying down, but with the head raised
The newspaper iceberg resembles the shape og Gibraltar as seen from Algeciras... an image never seen when approaching Gib from seaward.